Abstract: We report on recent progress in the program to classify separable amenable C-algebras. Our emphasis is on the newly apparent role of regularity properties such as finite decomposition rank, strict comparison of positive elements, and -stability, and on the importance of the Cuntz semigroup. We include a brief history of the program's successes since 1989, a more detailed look at the Villadsen-type algebras which have so dramatically changed the landscape, and a collection of announcements on the structure and properties of the Cuntz semigroup.